ICPAD BLOG

Data will rule the world. And so will be Data Analytics.

It’s data everywhere. Everyday, companies and individuals like us upload humongous amount of data to the internet on web and social media – news, articles, web pages, images, videos, social media posts, reports, and so on. And this is growing by leaps and bounds every day with addition of new internet users and availability of better broadband internet speed.

According to a study by IBM, internet was used by approximately 2.4 billion users in 2014. By 2017, this number has grown to 3.4 billions, which is a whooping 42% increase in 3 years. Incredible. Isn’t it? (Source: https://blog.microfocus.com/how-much-data-is-created-on-the-internet-each-day/)

As per a IDC report, 44 billion GD of data was uploaded each day in 2016. This volume is estimated to grow to 463 billion GD per day in 2025. (Source: https://www.slideshare.net/Micro-Focus/growth-of-internet-data-2017). Now all these data could throw up incredible quantity of insights about people’s behaviour, actions, likings and dislikings and even insights about future behaviour.

For example, now a company can analyse your social media posts and to a large extent make a behavioural profile of yours and can even understand what you like and what you dislike. Tomorrow, analysis of data in real time can even predict which product you are going to buy in the next few days.

Professionals, who can analyse the humongous amount of data and help companies understand consumer behaviour, purchase potentials, and similar other things, will be required in very large numbers.